TerraForm Power Inc (NASDAQ:TERP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, May 10th.
According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “
TERP has been the topic of several other reports. Avondale Partners raised shares of TerraForm Power from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 2nd. JPMorgan Chase & Co. assumed coverage on shares of TerraForm Power in a research report on Friday, January 13th. They set a “neutral” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.40.
Several hedge funds have recently modified their holdings of TERP. Eventide Asset Management LLC bought a new position in shares of TerraForm Power during the first quarter valued at approximately $136,000. Nomura Holdings Inc. increased its position in shares of TerraForm Power by 1.1% in the first quarter. Nomura Holdings Inc. now owns 9,036,740 shares of the solar energy provider’s stock valued at $111,439,000 after buying an additional 100,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of TerraForm Power by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 325,392 shares of the solar energy provider’s stock valued at $4,026,000 after buying an additional 16,515 shares during the last quarter. Morgan Stanley increased its position in shares of TerraForm Power by 3.4% in the first quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock valued at $38,656,000 after buying an additional 103,906 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of TerraForm Power by 10.4% in the first quarter. Geode Capital Management LLC now owns 650,708 shares of the solar energy provider’s stock valued at $8,049,000 after buying an additional 61,491 shares during the last quarter. 89.35% of the stock is owned by institutional investors.
TerraForm Power Company Profile
TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.
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